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type: Answer
type: WrittenAnswer
answer has question: g6fDCCW5
answer has answering person: 3BxUtAOr
answer text: The Department for Transport is making available funds to Network Rail to meet its Control Period 5 commitments from the following three sources: 1. Network Grant This provides funding for Network Rail’s Permitted Business. Payments are made in accordance with Schedule 1 of the Department for Transport – Network Rail Infrastructure Limited Deed of Grant for Control Period 5. Financial Year Annual grant total 2014-15 £3,547,169,029.17 2015-16 £3,569, 244,491.02 2016-17 £3,606,597,940.14 2017-18 £3,653,747,782.10 2018-19 £3,284,410,500.67 Note: Figures in the above Schedule are given in 2012-13 prices. 2. Loan Funding The £30.3 billion loan facility agreement signed on 4 July 2014 covers Network Rail’s financing requirements for Control Period 5. Network Rail can draw down funds in different years, subject to business need and the Statement of Parliamentary Supply. In accordance with the terms of the agreement, the loan facility is subject to amendment and is currently set at £30.175 billion. This is the maximum Network Rail can draw down, and includes a £1.8 billion risk buffer. 3. Funding for projects in addition to the agreed Rail Investment Strategy The latest long-term forecast (June 2015 update) for additional programmes carried out by Network Rail not initially set in the Department’s Rail Investment Strategy is set out in the following table: Financial Year Annual funding total 2014-15 £63 million 2015-16 £94 million 2016-17 £129 million 2017-18 £76 million 2018-19 £87 million
answer given date: 2015-07-09+01:00
answer has answering body: XouN12Ow
written answer has answering body: XouN12Ow